Increase repeat business and referrals with direct mailJoe NiewierskiDirect mail, Promos, Brand Recognition, Postcards, PostcardMania
You have been writing mortgages like crazy for the last few
years. You have a pretty big database of customers, and hopefully,
you have been keeping updated contact information for them,
primarily because an organized database is the first key to
customer retention. The next step is to develop a direct mail
campaign to keep these customers thinking about you when they think
about mortgages. Often, customers need mortgage professionals once
every few years, and it takes far less than that for them to forget
your name. As well as fighting time, you are fighting indifference.
Customers who receive great service are often reluctant to pass
that information along, while customers who feel they have received
poor service tell everyone. Most of the time, good customers need
to be reminded of their experience. By following up with each
customer on a regular basis, you will not only stay in the front of
their mind but also start to build a reputation as a solid and
responsible business.
So, how do you get started? Below are a few of the most
frequently asked questions when starting a campaign to keep in
touch with past clients.
What Type of Direct Mail Works Best?
There is a great debate among mortgage professionals regarding what
type of direct mail will work best for attracting new business.
Many swear by letters, featuring their appearance of
professionalism, while others like the low cost and high visibility
of postcards. Overall, both seem to work adequately for bringing in
new business. You just need to decide which method works best for
you.
For keeping in contact with past customers, however, postcards
are the best method. This is due to the fact that if your customers
are not currently looking for a mortgage themselves, they are far
less likely to take the time to open a letter. Most of your "keep
in touch" promos in envelopes are thrown out before they are ever
read.
Since the goal is recognition and not direct action, you only
need them to read the message. Postcards have the message visible
when mailed, which means that while your customers are deciding
what to read and what to throw out, they are already being exposed
to your message.
How Often Should I Send Promos?
You should mail a promo to your database every 30-60 days. Any
longer than that and your clients may have already forgotten you
when their friends are looking for a mortgage. Since you will want
to send a promo frequently, you will need to keep your costs down.
With postcards, there are no envelope or assembly costs and the
postage is 30 percent less than letters. When using a mail house to
send your postcards, you can often receive postage rates as low as
18 cents per piece.
What Should I Feature on my Brand Recognition
Pieces?
There are some basic rules for the design of a brand recognition
direct-mail piece.
Rule Number One: Stay Color Consistent
Many times, people fall into the trap of changing the look of their
promo for the seasons or holidays. The rationale is that people are
thinking about Christmas or St. Patrick's Day, so they will respond
better to promo with those holiday-specific colors. The truth is
exactly the opposite: Their senses are so flooded by those images
that they actually start to skip right over them. Pick a color for
your company and stick with it. You will be more successful in
building recognition.
Rule Number Two: Design a Logo and Use it on Every
Piece
Having a clean, professional logo is best. It may be a little
pricey to have it designed, but in the end, it is well worth the
money. Experienced designers can often charge up to $2,000 for a
corporate identity package, including logo, letterhead and business
cards. If you aren't looking to make that type of investment,
simply pick a type style for your company name and use it every
time. Consistency is key because your logo is your main
identification point.
Rule Number Three: Make it Informative
Every piece should have something useful for your customers,
whether it is new information about the mortgage industry or even
possible investment properties in their area. It can even be
completely unrelated to the mortgage industrya calendar or list of
emergency numbers, even the old recipe card trick still works
pretty well. Anything that is likely to be kept around will help
build recognition in the minds of your past customers.
The mortgage industry has experienced a huge amount of growth
over the past few years. Unfortunately, this growth cannot last
forever. At some point, it is going to slow down and the only way
to keep your income at levels to which you have become accustomed
is to ensure that you retain as many past customers as possible. A
direct mail campaign is the best way to do this, but remember, this
type of program is a long-term process. Don't become discouraged if
you can't directly calculate the amount of money that you generate
right off the bat. What you are doing is burning your name into the
minds of your customers. Eventually, it will work out, and you will
see less attrition and far more referrals.
Joe Niewierski is vice president of marketing and promotion
for PostcardMania. He
may be reached at (800) 628-1804 or e-mail
[email protected].
